Hecla Mining (NYSE:HL) Shares Gap Up – Here’s What Happened

Hecla Mining (NYSE:HL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.44, but opened at $5.68. Hecla Mining shares last traded at $5.60, with a volume of 3,300,458 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HL. National Bank Financial downgraded shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $11.50 target price on shares of Hecla Mining in a report on Friday, February 14th. TD Securities decreased their target price on Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Roth Mkm cut their price target on Hecla Mining from $6.60 to $6.50 and set a “buy” rating for the company in a report on Tuesday. Finally, StockNews.com raised Hecla Mining from a “sell” rating to a “hold” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.38.

Hecla Mining Trading Up 4.9 %

The company has a 50-day moving average of $5.42 and a 200 day moving average of $5.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.55. The company has a market cap of $3.57 billion, a PE ratio of 112.92 and a beta of 1.91.

Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, February 13th. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. The company had revenue of $249.66 million during the quarter, compared to analysts’ expectations of $229.21 million. Analysts predict that Hecla Mining will post 0.2 earnings per share for the current year.

Hecla Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Monday, March 10th. Hecla Mining’s dividend payout ratio (DPR) is 100.02%.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors have recently made changes to their positions in HL. Point72 Asia Singapore Pte. Ltd. bought a new position in Hecla Mining during the 3rd quarter valued at about $28,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Hecla Mining during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in shares of Hecla Mining by 771.8% during the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock valued at $25,000 after buying an additional 4,438 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Hecla Mining in the fourth quarter worth approximately $25,000. Finally, Blue Trust Inc. lifted its stake in shares of Hecla Mining by 30.7% during the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,961 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.